Shenzhen ranks 14th in the latest ranking of Global Financial Centers Index (GFCI 25), which was released by British Z/Yen Partners Group and China Development Institute at Global Financial Forum in Dubai on Monday.

The GFCI rates 102 financial centers in the world by considering business environment, human resources, infrastructure, development level and international prestige.

The rating system includes 133 indices, and quantitative data were provided by third party organizations including the World Bank, Economist Intelligence Unit, OECD and United Nations.

An online survey was conducted by Z/Yen, covering 2,373 respondents in different countries.

The results showed Shanghai and Beijing have entered the world’s top 10 financial centers, taking the fifth and the ninth positions. Shenzhen ranks No. 14, down by two positions since GFCI 24, and is followed by six other Chinese mainland cities, namely Guangzhou, Qingdao, Tianjin, Chengdu, Hangzhou and Dalian.

New York remains in first place in the index, just seven points ahead of London. Hong Kong is only four points behind London in third place and Singapore remains in fourth place.

Most Asia/Pacific Centers performed well. Of the top 20 centers in the region, only Osaka saw a modest decline, while the others rose or remained as they were in GFCI 24. There has been a strong trend of Asia/Pacific centers improving over the past several years. The top eight centers in the region are now among the top 15 centers in the whole index.

GFCI has been jointly published twice per year by Z/Yen Partners Group in London and CDI in Shenzhen since 2015.